New Homes Sales Surge

New home sales rose 27% in the month of March.  This coincides with a strong number for existing March home sales that we received earlier in the week.

Some are cheering this as another sign of the housing bottom.  Others view it as a one time surge of buyers trying to take advantage of the housing credit before it expires next this month.

Time will tell.  The following chart helps put the 27% monthly rise in perspective.  You can see where the sales last month stand historically: